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Philippines DOE Secretary Appeals to Oil Companies Amid Fuel Price Hikes
Government Addresses Fuel Price Increases
Department of Energy (DOE) Secretary Sharon Garin recently voiced her concerns regarding the continuous increase in fuel prices in the Philippines. She noted that diesel prices, in particular, are expected to see significant hikes. While the DOE has appealed to oil companies for staggered price adjustments, Secretary Garin explained that not all companies might be able to comply due to financial constraints, forcing some to implement immediate and full price increases.
Stable Oil Supply Assured by DOE
Secretary Garin reassured the public about the country's oil supply stability. In addition to the previously announced 60-day reserves, an extra 300,000 barrels are expected to arrive this week, with another 500,000 barrels under contract for delivery within one to two weeks. She highlighted that the Philippines currently holds over a month's worth of oil supply, and the government is actively working to secure further imports to maintain this buffer.
Price Impact and Mitigation Efforts
The DOE estimates that gasoline prices will increase by 6.47 pesos, diesel by 11.88 pesos, and kerosene by 13.66 pesos. Secretary Garin attributed the higher increase rates in the Philippines compared to neighboring countries to the absence of government subsidies for fuel. The administration is working on measures to mitigate the impact of these price hikes, especially on critical sectors like transportation and agriculture. Secretary Garin encouraged citizens to practice energy conservation to help alleviate the effects of rising prices and affirmed the government's commitment to supporting those most affected.
*Source: YouTube: ABS-CBN News (2026-03-23)*
